The Commission filed two new enforcement actions last week. One centered on a Ponzi scheme and involved 17 defendants. A second focused on an insider trading scheme. In addition, a default judgment was taken against former Coinbase manger Ishan Wahi,
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Commission Files Settled Insider Trading Case
Insider trading has long been one of the staples of the Commission’s enforcement program. While each of its cases is based on alleged violations of Exchange Act Section 10b, neither the statute nor the rule based on it, mention the…
This Week In Securities Litigation (Week of March 11, 2024)
The Commission issued its final rules on environmental issues last week. The rules are the most comprehensive set of regulations issued by the agency dealing with environmental issues. The Commission also filed two enforcement actions. One centered inadequate filings. The…
The New SEC Environmental Rules
The Commission published its Rule on climate related disclosures earlier this week. This is the most comprehensive set of rules dealing with environmental issues promulgated by the agency. The proposals were first published about two years ago. The Commission received…
Advisor Fined for Failing to Timely Amend Schedule 13D Filing
Section 13(d) of the Exchange Act is one of the key disclosure provisions of the federal securities laws. Generally, it requires those who acquire substantial shareholdings in an issuer to file a schedule which informs the markets of the holdings.…
This Week In Securities Litigation (Week of March 4, 2024)
The Commission filed three new actions last week. Two centered on false financial statements while a third is based on false advertising. And, Cornerstone Research published a new report focused on accounting and auditing cases initiated by the Commission in…
False Advertising Ends in Bankruptcy
Advertising can be important to any business. Telling the public about a line of products or services being offered is typically designed to inform people about the products or services available to draw in customers or clients for the firm,…
The Number of Accounting & Auditing Cases Increased in FY2023
The Number of Accounting & Auditing Cases Increased in FY2023 There was a 22% increase in the number of accounting and auditing cases filed by the SEC in FY 2023, according to a new report published by Cornerstone Research, SEC…
This Week In Securities Litigation (Week of February 26, 2024)
Last week the Commission filed two new actions. One centered on insider trading and was partially resolved. The second focused on violations of Rule 105 by an investment adviser. The proceeding was resolved. Be careful, be safe this week. SEC…
Newsletter Publisher Charged For Accepting Secret Payments
It is axiomatic that the publication of favorable articles can be quite helpful to the share price of stocks. This may be particularly true if the favorable article is published in a respected investment newsletter or another industry publication. The…